Evaluating various future options for ice cream business in India, says HUL
Hindustan Unilever on Tuesday said it is evaluating various options for the future of the ice cream business, following its parent Unilever's announcement of a strategic intent to separate the vertical globally. London-based Unilever announced that it intends to transform itself into a simpler, more focused and higher-performing company by separating the ice cream business, a move expected to result in a loss of 7,500 jobs.
When asked about the possible impact of the move on the Indian business, the Indian subsidiary (HUL) of Unilever said it is evaluating various options.
«As far as the Indian ice cream business is concerned, we are evaluating the various options in light of this announcement. We will discuss this with the HUL Board and Unilever management in the coming months. Once the approach is finalised, we will communicate further,» said a HUL spokesperson in response to a query over the impact of Unilever's decision on the Indian business.
Ice creams contributed 3 per cent or Rs 59,144 crore to HUL revenue in FY23.
«We have a very robust cost savings programme in HUL called Symphony, that we have been driving for many years now. Through an end-to-end focus across all lines of the P&L (profit and loss), we have been generating gross savings...every year. This provides us with crucial fuel for growth, allowing us to invest competitively behind our brands and future capabilities.
»We will closely assess the global initiatives of Unilever under the productivity programme and assimilate best practices to
